June 27, 1997
Alabama Synfuel #1, Ltd.
c/o Covol Technologies, Inc.
0000 Xxxxx Xxxxxxxx Xxxx
Xxxx, Xxxx 00000
Covol Technologies, Inc.
0000 Xxxxx Xxxxxxxx Xxxx
Xxxx, Xxxx 00000
Re: Letter Amendment
Gentlemen:
Reference is made to (i) the Alabama Project Purchase Agreement, dated
as of March 20, 1997 (the "Project Purchase Agreement"), by and among Alabama
Synfuel #1, Ltd. and Covol Technologies, Inc., as sellers, and Birmingham Syn
Fuel, LLC, as buyer, and (ii) the Conditional Option Agreement, dated as of
March 20, 1997 (the "Option Agreement"), by and among Birmingham Syn Fuel I,
Inc. (Birmingham Syn Fuel II, Inc. and PacifiCorp Financial Services, Inc., on
the one hand, and Alabama Synfuel #1, Ltd. and Covol Technologies, Inc., on the
other hand.
The parties to the Project Purchase Agreement hereby amend the Section
5.3(c) of the Project Purchase Agreement by deleting the language "June 30,
1997" and inserting in its place the language "November 30, 1997".
The parties to the Option Agreement hereby amend subsections 1(b)(i)
and (ii) of the Option Agreement by deleting the language "June 30, 1997" and
inserting in its place the language "November 30, 1997" for subsection 1(b)(i)
and "August 31, 1997" for subsection 1(b)(ii), respectively.
This letter agreement may be executed in one or more counterparts, all
of which shall be considered one and the same letter agreement.
Very truly yours,
BIRMINGHAM SYN FUEL I, INC.
By: /s/ Xxxxxxx Xxxxxx
--------------------
Name: Xxxxxxx Xxxxxx
Title:Vice President
BIRMINGHAM SYN FUEL II, INC.
By: /s/ Xxxxxxx Xxxxxx
--------------------
Name: Xxxxxxx Xxxxxx
Title:Vice President
BIRMINGHAM SYN FUEL, LLC
By: /s/ Xxxxxxx Xxxxxx
--------------------
Name: Xxxxxxx Xxxxxx
Title:Vice President
PACIFICORP FINANCIAL SERVICES, INC.
By: /s/ Xxxxxxx Xxxxxx
--------------------
Name: Xxxxxxx Xxxxxx
Title:Vice President
ACCEPTED AND AGREED TO
AS OF THE DATE FIRST SET
FORTH ABOVE:
Alabama Synfuel #1, Ltd.
By: /s/ Xxxxx X. Xxxx
-------------------------------------------------------------
Name: Xxxxx X. Xxxx
Title: President of Covol Technologies, Inc., a general partner
Covol Technologies, Inc.
By: /s/ Xxxxx X. Xxxx
-------------------
Name: Xxxxx X. Xxxx
Title: President
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